Steel Mills

JSW Steel USA Sees Higher Shipments, Sales in Q4
Written by Laura Miller
May 19, 2023
Indian steelmaker JSW reported its results for its fiscal fourth quarter and financial year ended March 31, noting a sequential rise in quarterly shipments and sales at its JSW Steel USA operations.
JSW Steel USA’s Mingo Junction, Ohio, mill operated at 64% of capacity during Q4, producing 86,203 metric tons of HRC and 231,908 metric tons of slabs. The mill’s HRC sales rose 66% sequentially to 72,776 metric tons while slab sales spiked by 179% to 125,124 metric tons. The mill still posted an operating Ebitda loss of $12.1 million, which was $10.7 million less than the prior quarter’s loss.
The company’s mill in Baytown, Texas, saw 50% higher Ebitda quarter-on-quarter at $25.7 million. The plate mill operated at 47% of capacity during the quarter, producing 104,439 metric tons, while the pipe mill ran at just 5% with output of 6,606 metric tons. Plate sales volumes were 17% higher sequentially at 86,323 metric tons, while pipe sales were 5,241 metric tons.
JSW said a more severe slowdown could happen in the US in the second half of this year, as growth in the economy decelerates and combines with high wage inflation.
Earlier this month, the company announced it will invest at least $119.4 million to upgrade the Mingo Junction plant so it can produce steel slabs that are melted and manufactured in the US – a key requirement of its customers in the infrastructure and renewable energy sectors in order to take advantage of government-funded projects.
By Laura Miller, laura@steelmarketupdate.com

Laura Miller
Read more from Laura MillerLatest in Steel Mills

CMC Q4 profits rise on improved market conditions
CMC reported higher net earnings in its fiscal fourth quarter on "better market conditions" across its segments.

AISI: Raw steel production drops to multi-month low
After being historically strong for more than four months, US raw steel production fell for a second week.

U.S. Steel sues Algoma over iron pellet shipments
U.S. Steel is suing Algoma over the Canadian flat-rolled producer's rejection of iron pellet shipments, arguing it has breached its contract.

August US mill shipments slip but still higher than last year
The American Iron and Steel Institute reported a decline in the monthly shipments of US mills from July to August.

TransPod, Algoma, Supreme Steel linkup anchors Canadian steel in high-speed transit build
The three Canadian companies have announced a strategic partnership to support the development of an ultra-high-speed transit line from Edmonton to Calgary.